Key Financial Reporting Requirements Under GAAP Explained

Discover the three essential financial statements required by GAAP: income statement, balance sheet, and cash flow statement, ...

IFRS vs. GAAP: Key Differences in Accounting Standards Explained

Discover the key differences between IFRS and GAAP accounting standards, and learn how they impact financial reporting for ...
The Motley Fool

GAAP vs. Non-GAAP: Everything You Need to Know

GAAP standards provide uniform financial reporting, critical for investors and auditors comparing companies. Non-GAAP results adjust GAAP figures to highlight specific financial aspects, but they ...
Investment U

What are Generally Accepted Accounting Principles (GAAP)?

When a public company issues a financial statement, everything needs to be clear and well-understood by everyone reading it. To ensure this, it’s paramount to have a baseline for reporting. That’s ...
Houston Chronicle

Why It Is Mandatory for Companies to Abide by GAAP?

Generally accepted accounting principles, or GAAP, are a set of fundamentals for financial record-keeping and reporting that public companies and many private companies must follow. The Financial ...
Houston Chronicle

For GAAP Do You Have to Switch to Straight-Line Instead of Double-Declining?

The GAAP approves four different methods for depreciating business assets: the straight-line method, the units of production method, the declining balance method and the sum-of-the-year's-digits ...
JournalofAccountancy

FASB, IASB Announce New Disclosure Requirements on Offsetting

FASB and the IASB today issued investor-focused common disclosure requirements on the effect or potential effect of offsetting arrangements on a company’s financial position. U.S. GAAP and IFRS differ ...
JournalofAccountancy

FASB Issues Standards on Securitizations, SPEs

FASB on Friday published standards that change the way entities account for securitizations and special-purpose entities. Both standards will require new disclosures. FASB Statement no. 166, ...